Best Buy to Close China Stores

By

Miguel Bustillo

Feb. 21, 2011 10:51 p.m. ET

Best Buy Co. is closing its namesake stores in China and shifting new U.S. store growth to smaller formats instead of its familiar big boxes, as the electronics giant tries to realign capital to more fruitful ventures.

The Richfield, Minn., retailer announced Monday evening that it was shuttering its nine Best Buy branded locations in China, which have struggled to perform as well as similar big-box stores in the U.S., and was also...